Amazon delivery in New York. (Klaus Galliano/Bloomberg)
key takeaways:
- Online spending reached $8.3 billion on the first day of Amazon’s Prime Day event, surpassing Adobe’s earlier estimate of $7.9 billion.
- The four-day promotion is expected to generate $26.3 billion in sales, up 9% year over year, as overlapping deals from Walmart and Target drive widespread demand.
- With sales concentrated in electronics, appliances, tools and household essentials, retailers and analysts are keeping an eye on the event for signals on the strength of consumer spending.
Adobe Inc. According to Amazon.com Inc. Online spending across all retailers in the US reached $8.3 billion on the first day of its annual Prime Day sale, far exceeding the company’s earlier estimate of $7.9 billion.
Adobe, which tracks visits to retail websites, expects total online spending at the four-day event to reach $26.3 billion, up 9% from the promotion held in July last year.
Walmart Inc. And Target Corp. As competitors planned overlapping promotions to boost traffic and purchases on the web. The closely watched program provides clues about the health of consumers and their willingness to spend.
According to Adobe, shoppers scored deals on electronics, appliances, tools and home and garden products on the first day. The company said that there were strong sales of everyday essential items also.
Amazon is ranked No. 1 on the Transport Topics Top 100 list of the largest logistics companies in North America and No. 1 on the TT Top 50 list of the largest global freight companies. It is ranked 15th on the TT100 list of the largest private carriers in North America.
Walmart and Costco ranked No. 1 and 53, respectively, on the private carrier list.
